When it comes to real estate, everyone always says the three most important aspects to consider are: location, location, and location. While there are certainly other factors that determine the value of a property, location is without a doubt one of the most important. Here are a few reasons that make location a priority when considering real estate.
What makes location so important in terms of real estate is easy access to other services in the area. For families, a major factor that influences where they want their next home to be is the school district. The property’s location will determine where the children will be able to attend school. Depending on the school district, this can equate to thousands of dollars in value.
Aside from schools, the location also will determine what shops and restaurants are available. Many people enjoy being able to take a five-minute walk to get a cup of coffee or a quick commute to pick up groceries.
Over a lifetime, a few minutes can add up to a meaningful amount of time saved during each trip to the store. Additionally, where you live will determine how long your commute to work will be, whether it’s a drive or if you can access public transportation. Again, property owners will assess more monetary value in a property if it means saving them hours a week from traveling, which means being able to spend more time relaxing and spending time with the people who mean most to them.
There is much more value put into a property that’s in a safe neighborhood. Locations that receive heftier investments for proper lighting and other resources that deter burglary and vandalization will have a higher property value than areas with a history of criminal activity. To many, money is hardly a concern when it comes to protecting their property and loved ones.
While a house can be improved on the inside and out, it will always be wherever it is. The value of the location will always impact the value of a home. McNeely Mack LifeStyle Properties | Latter & Blum can help you find your dream home on the beautiful North Shore. Contact us today to learn more about our listings.